A Video Rental Store Has Two Video Cameras Available for Customers

question 6

Essay

A video rental store has two video cameras available for customers to rent.Historically,demand for cameras has followed this distribution.The revenue per rental is $40.If a customer wants a camera and none is available,the store gives a $15 coupon for snacks. $$\begin{array} { c c c c } \text { Demand } & \text { Relative Frequency } & \text { Revenue } & \text { Cost } \\\hline 0 & .35 & 0 & 0 \\1 & .30 & 40 & 0 \\2 & .20 & 80 & 0 \\3 & .10 & 80 & 15 \\4 & .05 & 80 & 30\end{array}$$
a.What is the expected demand for camera rentals?
b.What is the expected revenue from camera rentals?
c.What is the expected cost associated with camera rentals?
d.What is the expected profit from camera rentals?

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Definitions:

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